Micro-Enterprises – less than $50,000 in start-up capital and employ five or fewer people – are the greatest job generators in boom times and recessions. Many start as part-time or home-based businesses.
How Do Micro-Enterprises Benefit the Community?
· Increases the number of jobs created by new and expanding very small businesses
· Improves the local business environment, increasing commercial occupancy and development, and sales tax collections
· Increases the diversity and availability of goods and services in the community
- Reduces default and delinquency rates of small business loans
- Reduces public assistance costs, such as welfare and unemployment
- Improves business sustainability and profitability
- Improves economic self-sufficiency for families in poverty
- Increases business skills and self-esteem
- Improves access to community resources and credit opportunities
How Do Micro-Enterprises Benefit Individuals?
Source: http://www.microbiz.org
